Avenir Reply: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Avenir Reply
Largest movements
- Receivables within one year -€3.9m
down €3.9m (-69.5%), from €5.6m to €1.7m
of which Trade receivables: -€3.8m
- Other debts -€3.4m
down €3.4m (-50.9%), from €6.7m to €3.3m
- Trade debts -€385,482
down €385,482 (-76.1%), from €506,356 to €120,874
- Gross operating margin -€256,774
down €256,774 (-29.4%), from €874,068 to €617,294
- Financial income +€36,228
up €36,228 (+29995.3%), from €121 to €36,349
of which Non-recurring financial income: +€34,926
- Staff costs -€31,856
down €31,856 (-4.5%), from €702,187 to €670,331
- Depreciation -€11,922
down €11,922 (-95.3%), from €12,509 to €588
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,679,273 | €1,798,805 | -€3.9m | -68.3% |
| Fixed assets | 21/28 | €11,646 | €5,726 | -€5,919 | -50.8% |
| Intangible fixed assets | 21 | €3,236 | - | -€3,236 | |
| Tangible fixed assets | 22/27 | €3,769 | €1,086 | -€2,683 | -71.2% |
| Plant, machinery and equipment | 23 | €1,752 | €1,086 | -€666 | -38.0% |
| Furniture and vehicles | 24 | €2,017 | - | -€2,017 | |
| Financial fixed assets | 28 | €4,640 | €4,640 | = | 0.0% |
| Current assets | 29/58 | €5,667,628 | €1,793,078 | -€3.9m | -68.4% |
| Amounts receivable within one year | 40/41 | €5,575,818 | €1,699,338 | -€3.9m | -69.5% |
| Trade receivables | 40 | €5,293,406 | €1,502,785 | -€3.8m | -71.6% |
| Other amounts receivable | 41 | €282,413 | €196,553 | -€85,860 | -30.4% |
| Cash at bank and in hand | 54/58 | €83,092 | €86,671 | +€3,579 | +4.3% |
| Deferred charges and accrued income | 490/1 | €8,717 | €7,069 | -€1,648 | -18.9% |
| Total equity and liabilities | 10/49 | €5,679,273 | €1,798,805 | -€3.9m | -68.3% |
| Equity | 10/15 | -€1,718,926 | -€1,773,580 | -€54,654 | -3.2% |
| Contributions | 10/11 | €323,333 | €323,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,042,259 | -€2,096,913 | -€54,654 | -2.7% |
| Amounts payable | 17/49 | €7,398,199 | €3,572,385 | -€3.8m | -51.7% |
| Amounts payable within one year | 42/48 | €7,396,699 | €3,572,385 | -€3.8m | -51.7% |
| Financial debts | 43 | €12,451 | €12,451 | = | 0.0% |
| Credit institutions | 430/8 | €12,451 | €12,451 | = | 0.0% |
| Trade debts | 44 | €506,356 | €120,874 | -€385,482 | -76.1% |
| Suppliers | 440/4 | €506,356 | €120,874 | -€385,482 | -76.1% |
| Taxes, remuneration and social security | 45 | €142,064 | €133,825 | -€8,239 | -5.8% |
| Taxes | 450/3 | €31,427 | €16,937 | -€14,491 | -46.1% |
| Remuneration and social security | 454/9 | €110,636 | €116,888 | +€6,252 | +5.7% |
| Other amounts payable | 47/48 | €6,735,828 | €3,305,235 | -€3.4m | -50.9% |
| Accrued charges and deferred income | 492/3 | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €702,187 | €670,331 | -€31,856 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,509 | €588 | -€11,922 | -95.3% |
| Other operating charges | 640/8 | €2,433 | €2,901 | +€469 | +19.3% |
| Non-recurring operating charges | 66A | - | €5,253 | +€5,253 | |
| Gross operating margin | 9900 | €874,068 | €617,294 | -€256,774 | -29.4% |
| Operating profit (loss) | 9901 | €156,939 | -€61,779 | -€218,718 | |
| Financial income | 75/76B | €121 | €36,349 | +€36,228 | +29995.3% |
| Recurring financial income | 75 | €121 | €1,423 | +€1,302 | +1078.4% |
| Non-recurring financial income | 76B | - | €34,926 | +€34,926 | |
| Financial charges | 65/66B | €23,963 | €28,292 | +€4,329 | +18.1% |
| Recurring financial charges | 65 | €23,963 | €16,495 | -€7,468 | -31.2% |
| Non-recurring financial charges | 66B | - | €11,797 | +€11,797 | |
| Profit (loss) for the period before taxes | 9903 | €133,096 | -€53,722 | -€186,819 | |
| Income taxes | 67/77 | €766 | €932 | +€166 | +21.7% |
| Profit (loss) for the period | 9904 | €132,331 | -€54,654 | -€186,985 | |
| Profit (loss) for the period to be appropriated | 9905 | €132,331 | -€54,654 | -€186,985 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.